New Jersey sportsbooks report fourth consecutive thirty day period of over $1bn in wagers

New Jersey’s on line and retail sportsbooks managed $1.23bn in wagers in December 2021, the fourth consecutive thirty day period the condition has attracted over $1bn in wagers.

The full fell just brief of October’s document of $1.30bn, but on line casinos did deal with to break their revenue record, recording a full of $133m past month.

Betting quantity meanwhile rose 24% from December 2020, with sportsbooks winning $59m in gross earnings, down 11% from December 2020. The overall revenue generated $8.9m in state and local taxes.

But according to PlayNJ, which tracks gaming developments in the state, these superior numbers could be underneath risk. New Jersey’s standing as the biggest on line athletics betting market in the region could now be in danger amid the start of cell athletics betting in New York previously this thirty day period.

“It’s fitting that New Jersey’s sportsbooks finished the 12 months on a in close proximity to-history tempo, but December could mark the very last billion-greenback thirty day period in New Jersey for the foreseeable long term,” reported David Danzis, an Analyst for PlayNJ.com. “The state’s sportsbooks have bucked expectations prior to, and the operators will make changes to ensure that New Jersey remains amongst the top markets in the US.”

For the year, New Jersey’s retail and on the net sportsbooks manufactured $10.9bn in wagers, the most of any US condition in 2021. That quantity was up by 82% from 2020.

Gross revenue amounted to $815.8m, with $122m generated in state and nearby taxes. The figures both of those represented raises of 105% from 2020.

“2021 will be remembered as the year that New Jersey was the unrivaled leader of the US marketplace, even if that position proves to be short-lived,” mentioned Eric Ramsey, an Analyst for the PlayUSA.com Network, which includes PlayNJ.com.

“New York will virtually definitely suppose the crown soon, when New Jersey will possibly slip at the rear of Nevada and some others in the coming year. Even now, sports activities betting will remain a highly effective profits generator for the point out.”